In a significant move for the cryptocurrency landscape, Australian crypto broker Swyftx has announced its acquisition of New Zealand’s Easy Crypto, signaling optimism in the face of evolving regulatory frameworks in the United States. This strategic partnership aims to enhance their collective market presence amidst a shifting political and regulatory environment.
Swyftx CEO Jason Titman remarked that recent policy changes under former President Trump have been instrumental in creating a favorable atmosphere for such deals. “Trump’s policy messaging around crypto serves as a tailwind for this agreement,” he stated. Titman indicated that the groundwork for this acquisition was laid prior to Trump’s election but has gained new momentum due to what he describes as the “cusp of sensible regulation in the US,” which he believes will catalyze liquidity and encourage other nations to refine their crypto regulations.
“The environment for dealmaking is about to improve exponentially, and there is no question that money will move. This deal may be the first, but it won’t be the last,”
Post-election, the crypto landscape in the United States has witnessed key appointments of pro-crypto executives in regulatory roles, alongside a shift in the Securities and Exchange Commission’s stance toward digital assets. Titman reflects on a tough few years for mergers and acquisitions in the sector, attributing it to a reluctance from crypto CEOs to engage in deals fraught with regulatory uncertainty during the Biden administration. This hesitation, according to Titman, permeated international markets suffering from unclear legislative frameworks regarding blockchain and digital currencies.
With the acquisition set to formalize on March 31, Swyftx and Easy Crypto have announced intentions to operate as separate entities while strategizing for their eventual integration. This merger will enable a combined workforce of nearly 200 professionals, bolstering their operational capabilities from their base in Brisbane, Australia.
Janine Grainger, co-founder and CEO of Easy Crypto, expressed enthusiasm about the partnership, describing it as a “natural fit” aimed at positioning themselves as a formidable entity in the crypto market. She noted that the past four years have witnessed significant changes in the industry, with a trend toward greater consolidation among robust regional and global players.
As of August 2024, an estimated 3.9 million Australians—out of a population of 26 million—are reported to own cryptocurrencies. Meanwhile, research indicates that nearly 50% of New Zealand’s population of 5.2 million is actively involved in crypto investments or considering entry into the market.
Looking ahead, both Grainger and Titman emphasize the increasing interest from the crypto sector to foster economic growth, particularly as New Zealand’s regulatory environment begins to stabilize and reinforce public trust in digital assets. Grainger observed, “There is strong support for crypto locally—close to 50% of New Zealanders have owned or are considering future investments into crypto.”
This acquisition not only represents a strategic alignment between two dynamic companies but also heralds a pivotal moment for the broader crypto ecosystem as it continues to navigate technological advancement and regulatory evolution.
